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Concept
Ryanair
Summary
Ryanair () is an Irish ultra low-cost carrier founded in 1984. It is headquartered in Swords, Dublin, Ireland, and has its primary operational bases at Dublin and London Stansted airports. It forms the largest part of the Ryanair Holdings family of airlines and has Ryanair UK, Buzz, Lauda Europe, and Malta Air as sister airlines. It is Ireland's biggest airline and in 2016 became the world's largest airline by scheduled international passengers.
Ryanair Group operates more than 500 planes. The airline has been characterised by its rapid expansion, a result of the deregulation of the aviation industry in Europe in 1997 and the success of its low-cost business model. Ryanair's route network serves over 40 countries in Europe, North Africa (Morocco), and the Middle East (Israel and Jordan).
The company has at times been criticised for its refusal to issue invoices for the VAT-exempt services it provides (airfares), poor working conditions, heavy use of extra charges, poor customer service, and tendency to intentionally generate controversy in order to gain publicity.
Since its establishment in 1984, Ryanair has grown from a small airline, flying the short journey from Waterford to London Gatwick, into Europe's largest carrier. There have been over 19,000 people working for the company, most employed and contracted by agencies to fly on Ryanair aircraft.
The airline went public in 1997, and the money raised was used to expand the airline into a pan-European carrier. Revenues have risen from €231 million in 1998 to €1.843 billion in 2003 and to €3.013 billion in 2010. Similarly, net profits have increased from €48 million to €339 million over the same period.
Ryanair was founded in 1984 as "Danren Enterprises" by Christopher Ryan, Liam Lonergan (owner of Irish travel agent Club Travel), and Irish businessman Tony Ryan, founder of Guinness Peat Aviation. The airline was shortly renamed "Ryanair". It began operations in 1985 flying a 15-seat Embraer Bandeirante turboprop aircraft between Waterford and Gatwick Airport.
Official source
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